Rolls Royce sees business jet deliveries rebound in '05

NEW YORK (CBS.MW) -- Rolls-Royce
RYCEY, -0.13%
said it expects 2003 and 2004 to be trough years for business jet deliveries, followed by a slow recovery in 2005. In comments prepared for the National Business Aviation Association annual meeting, Ian Aitken, president of the company's corporate aircraft division, said the company is expecting a wave of business jet retirements in the next 10 to 20 years, particularly in the light- to medium-aircraft segments. "Our data shows that 25 percent of the business jet fleet is 26 years of age or older and 40 percent of the fleet is 20 years of age or older, which shows that as many as 5,000 aircraft will need to be replaced over the forecast period," said Aitken. Rolls-Royce is forecasting 2003 business jet deliveries of about 500 units, down 25 percent vs. 2002. Deliveries for 2004 are expected to be at about the same level.

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